Donald Trump

The Federal Communications Commission ordered an accelerated review of Disney's eight ABC television licences one day after Trump demanded Jimmy Kimmel's firing. The review targets Disney's corporate diversity policies as potentially violating anti-discrimination rules, threatening the company's 'character qualifications' to hold broadcast licences. Disney shares fell 1% as the company called it an effort to 'suppress speech', while FCC Chair Brendan Carr defended linking DEI policies to licence worthiness. The timing is unprecedented: these licences weren't due for review until 2028.

The Trump administration is establishing a quarantine and treatment centre in Kenya for Americans exposed to Ebola overseas, rather than bringing them to US hospitals. Officials defend the move as expediting care near outbreak zones, with Kenya confirming talks on health cooperation. A former CDC official called the plan 'unethical and irresponsible', citing Kenya's limited high-containment infrastructure compared to US biocontainment units. The policy reverses decades of repatriating exposed Americans to facilities like Emory and NIH, as Trump promises no Ebola cases will enter the United States.

Unusual Machines jumped 82% to $9.77 after Donald Trump Jr joined the advisory board of the drone component maker, with volume spiking to 56 million shares versus a 121,000 daily average.

Chinese President Xi Jinping sharply criticized Japan's defense buildup during November's Beijing summit with Trump, accusing Tokyo of "remilitarisation" as Prime Minister Sanae Takaichi pushes defense spending toward 2% of GDP by 2027. Sources briefed on the talks told the Financial Times Xi specifically targeted Japan's counter-strike capabilities and deepening U.S. Alliance ties, framing them as regional threats. The comments came amid escalating China-Japan tensions over the East China Sea and Taiwan, with Japan identifying China as its "greatest strategic challenge" while acquiring long-range missiles and expanding rapid deployment forces. Despite the diplomatic friction, no major agreements emerged from the Trump-Xi meeting on Iran, Taiwan, semiconductors, or rare earths.

The former White House AI czar intervened to stop an executive order that would have escalated federal preemption of state AI regulations through litigation and funding leverage. Sacks, who left government in March, convinced Trump the aggressive approach was politically inflammatory and would undercut stable federal AI frameworks. Industry sources say tech lobbyists grew worried that Sacks' hard-line tactics were hurting rather than helping their policy agenda. The episode highlights growing tension between Silicon Valley and Trump's regulatory approach as AI competition with China intensifies.

China is stalling approval for Pentagon official Elbridge Colby's Beijing visit as leverage against a proposed $14 billion US arms package for Taiwan, following December's $11.1 billion weapons sale that already angered Beijing. The diplomatic pressure tactic comes after Xi Jinping reportedly pressed Trump to show restraint on Taiwan arms transfers during a February call. For investors, the significance extends beyond the weapons themselves to US-China strategic stability, semiconductor supply chain risk, and the precedent of Beijing tying military engagement to Taiwan policy decisions.

Brussels fast-tracked ratification of its new trade deal with the US after Trump threatened sharply higher tariffs beyond his 15% baseline. The agreement locks in a $750 billion energy purchase commitment and $600 billion in EU investment over Trump's term. European Parliament members who wanted to slow-walk approval over sovereignty concerns were overruled to avoid immediate tariff retaliation. The deal still contains legally non-binding elements that could unravel if political winds shift, but Trump's brinkmanship worked. EU exporters in autos, pharma, and semiconductors now face predictable 15% duties rather than open-ended escalation.

Russia and China signed a binding construction agreement for the Power of Siberia-2 pipeline during Putin's Beijing visit, but the fine print tells a different story. The deal carries 50 billion cubic meters annually through Mongolia by 2030, yet key commercial terms remain unresolved, including pricing, cost-sharing, and who builds the line. Beijing's muted public response contrasts sharply with Moscow's enthusiasm, suggesting China is keeping its options open while Russia grows more desperate for Asian energy revenues. The pipeline would help replace roughly 30 percent of Gazprom's lost European volumes, but only if China agrees to terms that make economic sense for both sides.

Beijing is quietly distancing itself from Moscow's war. During Trump's recent summit in Beijing, Xi privately told him that Putin might 'regret' his 2022 invasion decision, marking a sharp shift from China's earlier 'no limits' partnership rhetoric. Trump also floated joint US-China opposition to the International Criminal Court's Putin warrant, seeking tactical common ground on limiting global legal constraints. The conversation came against a backdrop of a brief Ukraine ceasefire (9-11 May) followed by one of the most intense Russian aerial campaigns of the war, with over 1,500 drones launched in three days. Xi's apparent regret suggests China sees Russia as increasingly costly as a strategic partner while the war destabilizes global markets Beijing depends on.

Trump postponed a planned military strike on Iran after Saudi Arabia, Qatar, and the UAE asked for a delay, saying they were 'getting very close to making a deal.' The former president said the US was 'ready to go in tomorrow' with something 'very big' but agreed to hold off for 'two or three days' while regional allies pursue diplomatic progress. Oil prices retreated immediately after Trump's announcement, reflecting how quickly geopolitical theatre moves energy markets. The episode highlights Gulf states' influence on US decision-making when their energy infrastructure is at stake, with roughly 20 million barrels per day passing through the Strait of Hormuz. Iran has not publicly confirmed the talks Trump referenced, leaving markets to price in uncertainty about both diplomatic progress and military escalation.

Nicotine pouches have become fashionable across Trump's political orbit, including Health Secretary RFK Jr., as Philip Morris International's ZYN brand captures 76 percent of the US market. The FDA authorized 20 ZYN products in January as 'appropriate for public health protection' compared to cigarettes, while the brand reached 334 million unit shipments from just 1 million six years ago. PMI's CEO now frames nicotine as 'misunderstood' with 'cognitive benefits,' finding clear political receptivity within Trump's health leadership despite public health concerns about youth uptake and addiction in non-smokers. The cultural adoption in elite political circles accelerates market growth and regulatory acceptance for PMI's smoke-free transition strategy, with ZYN generating roughly six times more profit per unit than international cigarette sales.

Trade Representative Jamieson Greer expects China to commit billions in US agricultural purchases, with Beijing already one-third through its soybean commitments for this growing season. Soybean prices jumped 12-15% on the news, but industry reports suggest traders expect diversified buying rather than the concentrated soybean surge of previous deals. The agricultural promises come with Beijing seeking relief from the blanket 10% tariff on Chinese goods. Watch whether this translates to actual purchase orders or becomes another Phase One-style commitment that underdelivers when political winds shift.

The SEC agreed to settle its civil fraud case against Gautam Adani over alleged concealment of a bribery scheme tied to a $750 million 2021 bond offering. Adani had argued the case lacked US jurisdiction since the conduct occurred in India and the bonds were fully repaid with all interest in 2024. The settlement removes one layer of US legal risk for Asia's richest man but leaves the parallel Brooklyn criminal case unresolved. The timing coincides with Adani's reported lobbying of the Trump administration and pledged US investments, raising questions about whether enforcement decisions reflect legal merit or geopolitical considerations.

Trump brought top US executives to Beijing for his meeting with Xi Jinping but few major commercial agreements emerged despite the high-profile optics.

Critical material supply chains likely on the negotiating table alongside trade and technology.

Forty-seven years of US arms sales to Taiwan just became a bargaining chip. Trump announced he's discussing future weapons packages with Xi Jinping, with $14 billion in pending sales now hanging in the balance ahead of their April Beijing summit. This breaks decades of precedent where arms sales were non-negotiable US commitments under the Taiwan Relations Act. Taiwan's government is quietly panicking, having just approved a $25 billion defence budget that assumes continued US support. For allies like Japan and the Philippines, the message is clear: even ironclad security commitments are tradeable if the price is right. China may offer agricultural purchases or Boeing orders worth tens of billions to sweeten the deal.

Trump's 14-point peace proposal died yesterday after Iran's counterproposal ignored every nuclear concession the White House demanded. Tehran's response, delivered after a 10-day wait, focused entirely on sanctions relief and war cessation while omitting any commitment to halt uranium enrichment. The Strait of Hormuz remains closed under Iranian control, trapping 20 percent of global oil flows as Trump threatens renewed bombing if talks collapse. Oil traders now face a binary outcome: either a breakthrough by month-end or escalation that could push Brent past $120.

The May 14-15 Beijing summit will happen as scheduled, six weeks after Iran tensions forced the original delay. The meeting puts Xi in a stronger position than March, when Trump needed Chinese cooperation to reopen the Strait of Hormuz for oil flows. Council on Foreign Relations analysis suggests Beijing now holds leverage as Washington remains distracted by military operations. Expect limited trade progress on Boeing and soybeans, but Iran's status as China's largest crude buyer makes any oil-related concessions unlikely. The optics matter more than outcomes: both sides need stability theater.

Trump's tariff strategy hit another judicial wall yesterday. A federal trade court ruled his 10 percent global tariffs illegal under Section 122 of the Trade Act, finding no balance-of-payments deficit exists. This follows February's Supreme Court rejection of his broader tariff powers under emergency legislation. The administration will appeal, but the pattern is clear: courts are systematically dismantling Trump's trade arsenal piece by piece. For businesses facing import costs, the legal uncertainty may prove more damaging than the tariffs themselves.

Donald Trump walked back his June 1 threat to impose 50 percent tariffs on EU goods, extending the deadline to July 9 after Ursula von der Leyen requested serious negotiations. The pattern is familiar: announce steep tariffs, spook markets, then delay after diplomatic outreach. EU goods currently face 10 percent duties, rising to 20 percent in early July without a deal. With 44 days remaining and a $236 billion trade deficit as leverage, Trump has created a binary outcome that could either produce genuine concessions or trigger the largest transatlantic trade war in decades.